IBT Staff Reporter

Considering the fact that gold prices have gone up so fast in the recent past that almost all investors in gold and gold mining companies' stocks must be thinking that the gold diggers are making huge profits.

ICBC Credit Suisse Asset Management Co, the Chinese fund venture of Swiss bank Credit Suisse , said on Friday it raised more than 14 billion yuan ($2 billion) in China's biggest bond fund ever, as investors sidestep a weak stock market.

Demand for oil will continue to grow slowly in 2011, when world economic expansion is projected to be slightly lower than this year's, OPEC said on Friday.

Retail sales rose in July in a hopeful sign for the economy, but the gains were concentrated in auto and gasoline station sales, suggesting underlying momentum in consumer spending remains tame.

Agricultural Bank of China's <1288.HK><601288.SS> initial public offering hit a record $22.1 billion on Friday, after it exercised an over-allotment option in full, two banking sources said.

Euro zone gross domestic product grew at its fastest pace in more than three years in the second quarter, boosted by a strong performance by Germany and France, but concerns remain that the rebound could falter.

Research In Motion is optimistic that it will be able to resolve the Indian government's security concerns, a senior company official said on Friday.

Stock index futures fell on Friday as investors awaited consumer sentiment and retail sales data to get a better reading on the state of the fragile economic recovery.

Recent amendments from the Basel Committee on banking regulation do not appear to meet the concern of practitioners of trade finance that proposed new rules could make the vital loans scarcer and more expensive.

The European Commission welcomed data on Friday showing strong economic growth in the euro zone in the second quarter of the year but said the recovery in the currency area remained fragile. Commission spokesman Amadeu Altafaj said that while the figures -- which showed the economy expanded 1.0 percent quarter-on-quarter -- were encouraging, euro zone economies still needed to focus on fiscal consolidation and structural reforms, which could have an impact longer-term.

Onset of festival season failed to give a boost to gold demand in India this week with almost all jewelers and gold dealers reporting below average sales across all bullion markets in India. Global bullion market has been expecting a huge demand from India this week for the yellow metals as the country celebrates Raksha Bandhan on August 24, an occasion for Indians to buy gold. Moreover, delaers are expected to refurbish their stocks during this week in anticipation of increased sales during th...

Agricultural Bank of China <1288.HK><601288.SS> has fully exercised an over-allotment option for the Shanghai portion of its initial public offering, taking the total proceeds from the offer to $22.1 billion, making the IPO the world's biggest.

U.S. stock index futures signaled losses on Friday as investors awaited consumer sentiment and retail sales data to get a better reading on the economy.

India will go after any company, including Google, after cracking down on BlackBerry in its bid to keep the world's fastest growing mobile phone market safe from militants and cyber spying, a government source said on Friday.

Corrects after stats office said GDP gain was biggest since reunification instead of biggest gain in 23 years.

Corrects after stats office said GDP gain was biggest since reunification instead of biggest gain in 23 years.

Germany's economy grew at the fastest rate since reunification in the second quarter as companies stepped up investment and exports surged, providing fresh evidence that the recovery has shifted up a gear.

The government plans to release student loan repayment rates for for-profit schools on Friday, identifying institutions by name, as part of efforts to tighten scrutiny of federal student aid.

Oil jumped by a dollar to above $76 a barrel on Friday in a technical rebound from the steepest three-day decline since mid-May, and as the euro surged after strong second quarter German economic growth.

Gold climbed to a one-month high in Europe on Friday, extending the previous session's rise, as investors spooked by a raft of disappointing U.S. economic data turned to the metal as a safe store of value.

India will go after any company, including Google, after cracking down on BlackBerry in its quest to keep the world's fastest growing mobile phone market safe from militants and cyber spying, a government source said on Friday.

Former global top gold producer, South Africa's output fell 5,3% in volume terms in June compared with the corresponding month last year. In a statement, Statistics SA said production of nongold minerals and total mineral production both fell 4,9% that month compared with the same month last year.

Gold extended gains in Asian trade Friday after concerns over global economic recovery prompted safe haven buying. Gold for immediate delivery was seen trading at $1215.17 an ounce at 12.00 noon Singapore while US Gold for December delivery was at $1,216.73 an ounce on the comex division of Nymex.

Japanese Prime Minister Naoto Kan and Bank of Japan Governor Masaaki Shirakawa may meet as early as next week to discuss the yen's strength and possible responses, although likely options are seen as limited.

India may shut down Google and Skype Internet-based messaging services over security concerns, the Financial Times reported on Friday, as the government threatened a similar crackdown on BlackBerry services.

India may shut down Google and Skype Internet-based messaging services over security concerns, the Financial Times reported on Friday, as the government threatened a similar crackdown on BlackBerry services.

Germany's economy grew 2.2 percent in the second quarter, well above forecast and its biggest gain in 23 years, boding well for a first estimate of euro zone numbers later on Friday.

European stocks rallied on Friday and the euro climbed against the dollar and the yen as investors cheered solid readings of economic growth in euro zone countries and a stellar performance in Germany.

The euro jumped and Asian stocks extended gains on Friday after stunning German data showed Europe's biggest economy grew at its fastest pace in 23 years, alleviating some doubts about the strength of global growth.